This innovation on his part temporarily set 3M back on its feet in that product line. How did we come up with them? This is another value-based principle. Click for another edition of this book. Another more main topic of the novel is the Eight Basic Principles. The organization cannot just manage by numbers.
The sixth and often obvious principle is to stick to the knitting. All these basic principles are a pleasant surprise. I can also recall the story about Disney where regular office employees assume a cartoon character role wearing costume and mask once in a while just to interact with their customers. For example, anyone assuming that a new manager of a Taco Bell will perform exactly as the old manager did is ridiculous. The authors analyzed some successful companies attempting to identify the eight attributes they had in common. It's certainly not unreadable and many of the ideas still ring true. The problem of the modern organization is that it addresses only the middle element, decision making.
It seems the author reiterates the idea through out the whole books trying to fit in his 8 principles of managing a company. Idea men constantly pepper everybody with proposals and memorandums that are just brief enough to get attention, to intrigue and sustain interest — but too short to include any responsible suggestions for implementation. The company who know their game and objective clear enough outperform all others. If the producer, Taco Bell, is not in touch with what the customer wants to eat, then the business will most likely fail. I wouldn't take the example from the book but I believe everyone aware that excellent company is the visionary leader with clear objectives and goal.
I really recommend the book for people working at different managerial levels in different industries. General Electric was one of the casualties which failed to make the cut. It's biased to compare the excellent company with the rest and speculate the conclusion. What is important to remember is that at any and every point in your life, you are in charge of the success of something. This is a rare occurrence. Excessive layering maybe the biggest problem of slow moving, rigid bureaucracy.
Long before , In Search of Excellence describes how the excellent companies are rich with anecdotes, myths and fairy tales. The results of those research efforts was this book. The excellent companies require and demand extraordinary performance from average man. Many stories illustrate its key points. We apologize for the inconvenience. Small groups are quite simply the basic organisational building blocks of excellent companies.
A lot of people suggested it at the time. In 1977 McKinsey launched two projects; the first and major one, the Business Strategy project, was allocated to top consultants at McKinsey's corporate and was given significant resources, but could not manage to effectively implement strategy. It is ambivalent for me to rate this book, 3. The authors clearly draw heavily on their network of contacts from work in the field with the biggest name in consulting: McKinsey. Three items — inventories, profits and sales — form a crucible for managers.
If I plan to do any type of work at all, be it start a business or work for one, it is fundamental to understand how the great companies of the world have done it. Service, Quality, Reliability are the strategies aimed at loyalty and long term revenue stream growth. About the Authors Thomas J. The book purports to explore the art and science of used by several 1980s companies. Since the book was published, fifteen have done better than the overall stock market, twenty worse. Just know if you tackle it that it's old enough now to be a historical text and one that has been superseded by other more contemporary studies. She had just bought a LeBaron covertible.
Anyhow, I still think I should give the credit to the author who did a wonderful research and meticulous interview with all the excellent companies. People need for meaning 2. Simple form, lean staff - few administrative layers, few people at the upper levels. As Peters explained in 2001: 'Start with Taylorism, add a layer of Druckerism and a dose of McNamaraism, and by the late 1970's you had the great American corporation that was being run by bean counters. This rather casual study was the basis for their wildly influential and successful book, In Search of Excellence, which identified eight common factors that Peters and Waterman found in these forty-three excellent companies—for example, a bias for action and being close to the consumer. If I plan to do any type of work at all, be it start a business or work for one, it is fundamental to understand how the great companies of the world have done it. These eight principles may seem like common sense, but this research was the first to identify these qualities systematically.
They then talked to managers and read magazine stories, looking for common themes. In contrast to this, the excellent companies behaving in an agile way, conducting regular experiments, take small bets, make many tries, and tolerate failure because they know that innovation is a numbers game. Collins and Jerry Porras and Good to Great by Jim Collins. Peters study of excellent companies and why they succeed. The majority of its clients are of similar rank and stature. In Search of Excellence finds that excellent companies give people meaning, control of their work, and positive reinforcement.
The director of the company was a very well known person of his time whose name was Ron Daniel. Leaders need to set people free to help, not harness them. The excellent companies get quick action just because their organizations are fluid. Economically, the country was stilled gripped by stag-flation - stagnation coupled with inflation. This is the standard setting and enforcing values in a company.